MERCOSUR: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in MERCOSUR

In 2022, the MERCOSUR refrigerator or freezer market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, showed a perceptible setback. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Refrigerator Or Freezer Production in MERCOSUR

In value terms, refrigerator or freezer production reduced to $X in 2022 estimated in export price. Overall, production saw a sharp downturn. The pace of growth appeared the most rapid in 2016 with an increase of 493%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Refrigerator Or Freezer Exports

Exports in MERCOSUR

In 2022, after three years of growth, there was significant decline in shipments abroad of furniture designed to receive refrigerating or freezing equipment, when their volume decreased by -58.4% to X units. In general, exports showed a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of 55% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, refrigerator or freezer exports contracted sharply to $X in 2022. Over the period under review, exports saw a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 71% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil was the main exporter of furniture designed to receive refrigerating or freezing equipment in MERCOSUR, with the volume of exports amounting to X units, which was approx. 85% of total exports in 2022. It was distantly followed by Argentina (X units), mixing up an 11% share of total exports. Chile (X units) took a little share of total exports.

Brazil was also the fastest-growing in terms of the furniture designed to receive refrigerating or freezing equipment exports, with a CAGR of +5.8% from 2012 to 2022. Argentina (-22.5%) and Chile (-31.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil increased by +67 percentage points.

In value terms, Brazil ($X) remains the largest refrigerator or freezer supplier in MERCOSUR, comprising 89% of total exports. The second position in the ranking was held by Argentina ($X), with a 6.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil amounted to +5.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (-24.2% per year) and Chile (-25.8% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per unit in 2022, rising by 32% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per unit), while Argentina ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+8.0%), while the other leaders experienced a decline in the export price figures.

Refrigerator Or Freezer Imports

Imports in MERCOSUR

In 2022, purchases abroad of furniture designed to receive refrigerating or freezing equipment increased by 49% to X units for the first time since 2018, thus ending a three-year declining trend. Total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 51% against the previous year. Over the period under review, imports reached the peak figure at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, refrigerator or freezer imports soared to $X in 2022. Total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Argentina was the major importer of furniture designed to receive refrigerating or freezing equipment in MERCOSUR, with the volume of imports finishing at X units, which was approx. 46% of total imports in 2022. It was distantly followed by Colombia (X units), Chile (X units), Paraguay (X units) and Ecuador (X units), together constituting a 39% share of total imports. The following importers - Venezuela (X units) and Uruguay (X units) - each reached a 7.4% share of total imports.

Argentina was also the fastest-growing in terms of the furniture designed to receive refrigerating or freezing equipment imports, with a CAGR of +28.4% from 2012 to 2022. At the same time, Colombia (+5.4%), Chile (+4.6%), Ecuador (+3.8%), Uruguay (+3.3%) and Paraguay (+2.6%) displayed positive paces of growth. By contrast, Venezuela (-13.8%) illustrated a downward trend over the same period. Argentina (+39 p.p.) significantly strengthened its position in terms of the total imports, while Colombia, Chile, Paraguay and Venezuela saw its share reduced by -1.6%, -1.8%, -2.4% and -27.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X), Colombia ($X) and Chile ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 65% share of total imports.

Argentina, with a CAGR of +18.2%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MERCOSUR stood at $X per unit in 2022, approximately reflecting the previous year. Overall, the import price, however, showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 8.8%. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ecuador ($X per unit), while Argentina ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform